作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
8 l& K0 A4 C; z, h4 Q: Zagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
) [- O( |% s" d  q" E: f# sfailed to make the first payment and now wishes to settle her obligations with a
. Y& T* X2 \2 Y( r0 g' l, lsingle payment four months from now. What payment should Thelma be willing to
( W. U' h2 B$ _) |) \accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
+ _0 X2 U& Z& s" A( o) B                Month 0        Mon. 8                  Mon. 12
- ^- G0 K  c5 Z1 b1 qCash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
( d8 C. X# h& U; \! @8 C                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
5 F6 ]' |* c* K: y
; V% O5 _9 `& U% B# g! a& [these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
  g( N( i' {( {/ o2 G. s2 @* J9 H4 ]Conclusion        X        =        1729.8               
                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
" S% K( Q1 q/ e1 M1 d$ p0 E

littledognancy

Finance 学得不好所以不知道做得对不对。。。看着办吧~ 也许有用。

linchan

对了，答案是$1856.32